Pembina reacts to finalization of Quebec’s cap-and-trade regulations

Dec. 15, 2011

VANCOUVER — Matt Horne, director of the Pembina Institute’s climate change program, made the following statement in response to the Quebec government finalizing their greenhouse gas cap-and-trade regulations.

“It is encouraging to see Quebec moving ahead with its cap-and-trade regulations to reduce greenhouse gas pollution. The province is adding to the base of North American jurisdictions sending a signal that there will be a market for urgently needed clean energy solutions. Quebec’s actions will hopefully spur other North American jurisdictions to move forward.

“Quebec will need to strengthen their rules over time if the province is going to meet its climate change commitments. Most important is the need to ensure that the regulations create an adequate incentive to reduce greenhouse pollution. The current minimum auction prices — $10 per tonne in 2013 and $15 per tonne in 2020 — raise concern that the incentive may not be adequate.”

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Background:

The Pembina Institute’s comments on Quebec’s draft cap-and-trade regulations can be found here.